Stock Market Today: S&P 500 Rises but Remains on Track for Weekly Loss
NEW YORK (TheStreet) -- Stocks turned higher Friday though remained on shaky ground as investors reflected on a decent second-quarter earnings season but headed into the weekend with geopolitical uncertainties abounding.
The Dow Jones Industrial Average was up 0.48% to 16,446.71, while the S&P 500 was adding 0.42% to 1,917.59. The index was on track for a weekly decline as the rush to safe-haven assets pushed the yield on the 10-year note down to 2.396%. The Nasdaq was 0.25% higher to 4,346.37.
Russia struck back at Western sanctions Thursday by ramping up the trade war with a one-year ban of fruit, vegetables, meat, fish, milk and dairy foods from the U.S., Canada, the European Union, Australia, and Norway. The potential extent of the economic fallout from Russia's ban remains an unknown. The U.S. has begun limited airstrikes against extremist militants who have seized Iraq's largest dam and have threatened the lives of Americans and citizens across the country.
Thomson Reuters reported that 67% of the 443 companies in the S&P 500 that have reported second-quarter earnings have beat expectations, vs. 63% in a typical quarter since 1994.
The Labor Department said Friday that U.S. workers were more productive in the second quarter and labor costs rose slightly, a sharp turnaround from grim first-quarter figures. The Commerce Department said wholesale inventories rose 0.3% in June, the same as in May.
In individual company news, Lululemon Athletica
--By Andrea Tse in New York